{"id":5089,"date":"2022-11-25T11:44:06","date_gmt":"2022-11-25T11:44:06","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5089"},"modified":"2023-09-13T04:52:25","modified_gmt":"2023-09-13T04:52:25","slug":"san-antonio-multifamily-market-report-october-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-october-2022\/","title":{"rendered":"San Antonio Multifamily Market Report \u2013 October 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Robust Supply Outpaces Demand<\/h2>\n\n\n\n<p>San Antonio\u2019s economy <strong>recovered all jobs lost during the pandemic<\/strong> and entered expansion mode, but progression has slightly moderated, as some of the market\u2019s main economic drivers tend to be slow-moving. Meanwhile, the metro\u2019s multifamily sector fared well overall, with rents up 0.5% on a trailing three-month basis, to an average of $1,295, well below the $1,718 U.S. figure. Growth has remained relatively modest, mostly due to the rental pipeline\u2019s propensity for the Lifestyle segment, leading to a drop in the occupancy rate of 80 basis points year-over-year as of July, to 94.9%. Meanwhile, rent gains in the segment also underperformed, up 0.2% on a trailing three-month basis in August.<br><br>Unemployment jumped to 4.0% in July from 3.3% in April, trailing the U.S. rate (3.5%) and on par with the state. Of the big four Texas markets, San Antonio only outperformed Houston (4.8%). <strong>The job market expanded 5.2% in the 12 months ending in June<\/strong>, 50 basis points above the national rate. Of all sectors, only construction lost jobs (-900). San Antonio is making big strides in the cybersecurity industry, ranking sixth among major U.S. cities for tech job postings.<br><br>Development is moderating, with <strong>3,279 units delivered through August<\/strong>, and 12,705 underway. Meanwhile, investment remained high, surpassing $2 billion, for a per-unit price that\u2019s just 6.0% higher than last year, at $141,251.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2944-MatrixMultifamilySanAntonioReport-October2022\">Matrix Multifamily San Antonio Report-October 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Robust Supply Outpaces Demand San Antonio\u2019s economy recovered all jobs lost during the pandemic and entered expansion mode, but progression has slightly moderated, as some of the market\u2019s main economic drivers tend to be slow-moving. Meanwhile, the metro\u2019s multifamily sector fared well overall, with rents up 0.5% on a trailing three-month basis, to an average [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,125],"class_list":["post-5089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-san-antonio"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Antonio Multifamily Market Report \u2013 October 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Antonio rents continued to moderate, rising just 0.5% on a T3 basis through August, just behind the U.S. rate, to reach $1,295.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-october-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Antonio Multifamily Market Report \u2013 October 2022\" \/>\n<meta property=\"og:description\" content=\"San Antonio rents continued to moderate, rising just 0.5% on a T3 basis through August, just behind the U.S. rate, to reach $1,295.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-antonio-multifamily-market-report-october-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-25T11:44:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:52:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/San-Antonio-iStock-1368286100.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Antonio Multifamily Market Report \u2013 October 2022 - Yardi Matrix Blog","description":"San Antonio rents continued to moderate, rising 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